Tencent, SoftBank Invest $1.1B In Uber Rival In India

Law360, New York (October 11, 2017, 2:40 PM EDT) -- Ola, Uber’s chief ride-hailing rival in India, said Wednesday that it has raised $1.1 billion in a new round of funding from Tencent, SoftBank and new U.S. investors, and that it plans to close an additional $1 billion in the current financing round for a total of about $2 billion.

Tencent Holdings Ltd., a Chinese internet company, led the $1.1 billion financing round in its first-time funding of Ola, while earlier investor SoftBank Group Corp. of Japan also invested in the round along with unnamed U.S....
To view the full article, register now.
Law360 Pro Say Podcast
Check out Law360's new podcast, Pro Say, which offers a weekly recap of both the biggest stories and hidden gems from the world of law.